With an IRA from Our Bank, you get secure, completely-insured investment options with a manageable initial investment. Just select the IRA that fits your investment goals.
Traditional
- * Earnings are tax deferred until withdrawal
- * Annual contributions of $6,000 ($7,000 if age 50 or older)
- * Contributions may be tax deductible
- * Created for individuals who do not participate in employer-sponsored retirement plans
- * Certain individuals who do participate in employer-sponsored retirement plans may still qualify
- * Mandatory minimum distributions at age 70 and a half
- *Contact your tax professional regarding deductibility.
Roth
- * Offers a tax structure unlike any other IRA, with after-tax contributions and tax-free growth.
- * Annual contributions of $6,000 ($7,000 if age 50 or older).
- * Withdraw money from your Roth IRA at any time without paying taxes up to the amount of your contributions.
- * Qualified withdrawals are not taxable
- * No mandatory minimum distributions at age 70 and a half
- *Contact your tax professional regarding deductibility.
- *If you take distributions within the first five years you will receive a 10% penalty on the distribution amount.
- Stop by online and open an IRA that fits your investment goals today.
